Secure Your Future with Income Protection Insurance

These days when the life of an individual is not financial secure, his or her number one priority is to insure that their family's livelihood is protected against injury and or death. Prevention is better than a cure and in many cases the cost of a claim does not out weight the benefit. For this the best option is to take out income protection insurance. Having the cover in place will truly protect your ability to earn an income. The policy provides approx. 75% of your gross salary in the event you are unable to perform your occupational duties. You can simply apply for it by simply paying a premium on a fortnightly or monthly basis.

Types of Income Protection

Most commonly, income protection insurance Perth offers protection for sickness and accident cover for individuals and business professionals, both short and long term cover. When your employer stops paying your sick leave, your recommended policy will begin, most commonly after the 30 day waiting period. Benefits can be paid right up to the time of retirement age. I.e. age 65-70, so you don't have to access your pension monies early. A strategic insurance policy is meant for safeguarding your mortgage, personal loans and other liabilities. The waiting period you may find is generally between 14 days and up to 2 yrs and in some cases more.

The premium will vary depending on the type of cover, benefit amount, age, pre existing health conditions and accessibility to access income or capital.

The cover is there to support and reimburse your salary so that your family won't end up with nothing and or financial loss. I.e.: taking out further loans.

Benefits of Income Protection Insurance

In today's economic environment, when structuring the best insurance policies, income protection insurance provides a number of benefits:

Peace of mind - financial security in the case of experiencing any unforeseen circumstances like sickness and or accident.Payment of financial benefits are paid frequently to the policyholder in the event the life insured is unable to work. Payments cease when the life insured returns to work.The benefit payments are paid on a monthly basis.Insurance companies pay all legitimate claims in a timely manner, provided all the supporting documentation is submitted in a timely manner. Always use an insurance adviser.

Presently, a large number of insurance companies are dedicated to provide this type of financial cover and security to the public. Wysewealth offers the scope of personalized and tailored services like superannuation, investments, pensions, and all types of insurances. The company is dedicated to your needs over the short, medium and long- term, which will help you save time and money.

It is essential to always keep in mind that income protection insuranceis available to cater your monetary resources while you are temporarily unable to work. So, ensure you get insurance cover that covers you from day one and ongoing through your working life.

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